NEW YORK (AP) – Teva Pharmaceutical Industries Ltd. said it will start selling a generic version of the diabetes drug Actos after settling a patent infringement lawsuit brought by the company that makes Actos, Takeda Pharmaceutical Co.

Teva, the world’s largest maker of generic drugs, will be able to sell an authorized generic version of Actos starting Aug. 17, 2012. It can start selling a generic version of Takeda’s Actoplus met starting on Dec. 14, 2012. The Jerusalem-based company said U.S. sales of Actos and Actoplus met are about $4 billion per year.

The agreement between the companies resolves Takeda’s lawsuit. It gives Takeda additional time to sell Actos without facing generic competition or the risk that its patent will be thrown out, while Teva will be able to start selling its generics before the patents supporting Actos expire.

Teva said it will be able to sell its generic version before the agreed-upon dates under some circumstances.

Date: December 21, 2010
Source: Associated Press